How Long Does an Executor Have to Sell a House

While it may not be a situation you would like to think about, it is important to be prepared in the event that a loved one passes away and you become an executor tasked with selling their home. In order to determine how long does an executor have to sell a house, here is a guide on the process.

What You Need To Know As An Executor

To begin with, you will need to locate a will – if there even is one. If there is a Will that names you as the Executor, you need to file those documents with the court. This can take six to eight weeks before you have official authority. Once these documents are fully filed this is called your Letters of Administration with (or without) a Will. This used to be known as Probate. Letters of Administration with (or without) a Will / Probate is what gives the Executor legal authority to sign documents required for the sale of the property.

This is a great time to reach out to your real estate agent and communicate to them the timelines for the closing that to occur after the Will has been probated. This is incredibly important because if the property sells and closes before the Executor receives their Letters of Administration, the title of the property cannot be transferred on that date.

In the several weeks to months that it takes for you to have the Will probated, you should locate the deceased’s property tax information for both the real estate agent and the real estate lawyer. If, as an Executor, you cannot locate one, the lawyer can request a tax certificate from the city to provide this information.

Selling a House as an Executor

Another thing that can affect how long does an Executor have to sell a house is whether or not the property that is to be sold is a condominium. If it is a condo, you will also need to determine how much the deceased was paying for common expenses to the building corporation and if there are any amounts owing. This, as well as information related to any special assessments made against the unit will need to be passed along to the lawyer.

Regardless if the property is a house or condo another thing to consider that the lawyer will need is a list of rental items. It may take some digging, but you will need to find out if the HVAC or other systems are rented.

In an ideal scenario, the Executor will be awarded Letters of Administration (Probate) before the closing date – but that unfortunately is not always the case. If this is what happens to you, here are two options you can consider. The first option is that the buyer and the seller (the estate) can amend the closing date until after the Letters of Administration is obtained. This may not always work as the buyer of the estate property is likely also selling their own home and have their own deadlines to move out of their current home. The second option is to enter into an escrow closing agreement if both sides agree. This means that the buyers can move in without being the legal owners until the Letters of Administration is received. Then when the Letters of Administration are received, the Executor can legally transfer the title.